Nov
1
Collision Automobile Insurance
Filed Under Collision Insurance
Collision insurance coverage is not required by law in any state. But FYI: if you’re driving a car you purchased from a dealership and financed through a lender, you may be required by the dealership or lender to carry collision insurance. (Bummer). They need to cover their investment.
Collision coverage pays for damage caused to YOUR vehicle in an accident. If it’s your fault, you’re covered. Standard collision automobile insurance policies will pay for any repairs up to the fair market value of your car.
Now, it’s going to come with a deductible. This the amount of money you pay toward repairs before your collision insurance kicks in. This amount can really be as high or low as you want. The higher the deductible you’re willing to pay, the less the policy will cost.
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[...] does Collision Automobile Insurance cover? Collision coverage doesn’t care who was at fault. Regardless of who caused the [...]
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